Delcath Systems (NASDAQ: DCTH) director receives 22,500 stock options at $11.61 strike

Rhea-AI Filing Summary

DELCATH SYSTEMS, INC. director Bridget A. Martell received a grant of stock options as equity compensation. The award covers 22,500 options for common stock at an exercise price of $11.61 per share, and she now holds 22,500 options following this grant.

These options vest in equal monthly installments of one-twelfth, starting on May 13, 2026, as long as she continues serving as a director under the company’s 2020 Omnibus Equity Incentive Plan. The options expire on the earlier of 10 years from grant or two years after her service ends for vested portions.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Martell Bridget A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	22,500	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 22,500 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Options granted: 22,500 options Exercise price: $11.61 per share Underlying shares: 22,500 shares +3 more

6 metrics

Options granted 22,500 options Stock Option (right to buy) grant to director

Exercise price $11.61 per share Conversion or exercise price for common stock

Underlying shares 22,500 shares Common stock underlying granted options

Holdings after grant 22,500 options Total derivative securities following transaction

Vesting start date May 13, 2026 First monthly vesting of one-twelfth of options

Vesting rate 1/12 per month Monthly vesting while serving as director

Key Terms

Stock Option (right to buy), exercise price, 2020 Omnibus Equity Incentive Plan, vest and become exercisable, +1 more

5 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

exercise price financial

"conversion_or_exercise_price: 11.6100"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

2020 Omnibus Equity Incentive Plan financial

"subject to the terms and conditions of the Issuer's 2020 Omnibus Equity Incentive Plan"

vest and become exercisable financial

"The option will vest and become exercisable at the rate of one-twelfth"

expiration financial

"The option will expire the earlier of 10 years from the grant date"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Martell Bridget A

(Last) (First) (Middle)

C/O DELCATH SYSTEMS, INC.

566 QUEENSBURY AVENUE

(Street)

QUEENSBURY NEW YORK 12804

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DELCATH SYSTEMS, INC. [ DCTH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$11.61	05/13/2026		A		22,500		(1)	(1)	Common Stock	22,500	$0	22,500	D

Explanation of Responses:

1. The option will vest and become exercisable at the rate of one-twelfth (1/12th) per month with the first such vesting to occur on May 13, 2026 and monthly thereafter for so long as the reporting person remains a director of the Issuer (and subject to the terms and conditions of the Issuer's 2020 Omnibus Equity Incentive Plan, as amended). The option will expire the earlier of 10 years from the grant date or, for vested options, two years from the last day of service.

	/s/ Gerard Michel, Attorney-in-Fact	05/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Bridget A. Martell report in this Form 4 for DCTH?

Bridget A. Martell reported receiving a grant of 22,500 stock options for Delcath Systems common stock. The options are a compensation award, not an open-market purchase, and give her the right to buy shares at a fixed exercise price if they vest.

How many Delcath Systems (DCTH) options were granted to Bridget Martell?

She was granted 22,500 stock options linked to Delcath Systems common stock. These options increase her derivative holdings to 22,500 options after the transaction, reflecting a new equity-based compensation award tied to her role as a director.

What is the exercise price of Bridget Martell’s DCTH stock options?

The stock options have an exercise price of $11.61 per share. This means she can purchase Delcath Systems common stock at $11.61 per share once options vest and are exercised, subject to plan terms and continued board service requirements.

How do Bridget Martell’s Delcath Systems options vest over time?

The options vest at a rate of one-twelfth per month starting May 13, 2026. Monthly vesting continues while she remains a director, gradually increasing the portion she can exercise, consistent with the company’s 2020 Omnibus Equity Incentive Plan provisions.

When do Bridget Martell’s DCTH stock options expire?

The options expire on the earlier of 10 years from the grant date or, for vested options, two years after her last day of service. This structure limits how long she can wait to exercise, especially after leaving the board.

Is Bridget Martell’s Form 4 transaction a market buy or compensation grant?

It is a compensation grant, not a market purchase. The transaction is coded as a grant or award acquisition, indicating options were awarded as part of director compensation rather than being bought on the open market for cash.